Glenn E. Glover Quoted in Law360 Regarding Proposal to Modernize Chapter 11

Glenn E. Glover was recently quoted in a Law360 article entitled “Ch. 11 Proposals Leave Top Lenders Quaking.” The article explores the implications of a recent 400-page recommendation issued by the American Bankruptcy Institute commission on modernizing Chapter 11, which could restructure the balance of power in the bankruptcy industry. The article posits that “the commission’s proposal would hand junior groups some of that long-term reorganization value.”

“You’re basically valuing the potential that, in three years, their claim would have gotten something,” said Glover. “On a broader policy level, junior creditors would appear to have more skin in the game now.”